Scary Charts and Serious Jumbo Delinquencies

February 8th, 2010 by stacyherbert

Stacy Summary: We are still at the very, very, very beginning of the global debt collapse.  Until all this debt that can’t be paid is written off, we are going to be trapped in this state for decades.

Tags:   172 Comments

172 responses so far ↓

  • SG
    Feb 8, 2010 at 9:58 pm

    @Y’All
    I gotta hide under the covers now I think I hear my momma coming up the stairs… and oh yeah I don’t click on unamed links Y’All… coz I got a life and I aint that curious about Y’All or ya silly games… but Y’All probably knew that anyways OK BYE!!!

  • dan valley
    Feb 8, 2010 at 11:28 pm

    @Underfunded….Viva La Revolution!!!

  • The Underfundedmentalist
    Feb 8, 2010 at 11:41 pm

    So Pallin, who last ran for the incumbent party, is being sold as the leader of reform? only in america

  • Gordo
    Feb 8, 2010 at 11:46 pm

    If the movement allows people like Palin and Beck to co-opt it. The best they will get is a bowel movement.

    I think the reason the GOP wants Ron Paul out is he is anti War. He draws focus to a real issue. You don’t want that.

  • Giuseppe Bagodonutti
    Feb 8, 2010 at 11:53 pm

    I just read a new paper on The Austrian Business Cycle Theory regarding Banks that have 100% reserve requirements and whether or not that would prevent a Boom and Bust cycle…

    The conclusion of the paper is that it WOULD NOT, since the key problem is something called Maturity Mismatching which in essence means that short-term liabilities (your demand deposits) are used to finance long-term loans… and if they are not rolled over, where does the financing for the loans come from???

    I highly recommend reading it, since it is only about 15 pages…
    http://libertarianpapers.org/articles/2010/lp-2-2.pdf

  • Giuseppe Bagodonutti
    Feb 8, 2010 at 11:58 pm

    Speaking of house problems…

    that stupid tower in Dubai has been shut DOWN… electrical problems, I think

    http://www.telegraph.co.uk/news/worldnews/middleeast/dubai/7189379/Dubai-skyscraper-Burj-Khalifa-closes-to-public.html
    :D

  • The Underfundedmentalist
    Feb 9, 2010 at 12:23 am

    @gordo
    the populists first got co-opted by the right
    so that they could be branded racist by the left.
    A one two punch to the people’s gut.

  • dan valley
    Feb 9, 2010 at 12:27 am

    Confiscation of gold makes economic sense if you want to delay dollar collapse but politically impossible, like taking guns.

  • dan valley
    Feb 9, 2010 at 12:28 am

    STRATFOR http://bit.ly/bxNZ1x. Call it a Financial Fourth Reich

  • Alister
    Feb 9, 2010 at 12:38 am

    A venerable & highly important voice

    Stanley Fischer, governor at Bank of Israel , Davos ’10

    http://www.youtube.com/watch?v=yXiiGK9Pw8s

  • The Underfundedmentalist
    Feb 9, 2010 at 12:38 am

    @ dan
    if money goes digital
    selling gold might prove difficult,
    bartering is near impossible to stop though

  • Alister
    Feb 9, 2010 at 1:01 am

    @ Y’all

    Question:

    Does anyone know Y the Industrial Revolution failed to take root in the East as quickly as it did in the West…?? I realise some basic reasons but anyone know of good literature explaining this ? tx

  • GGees
    Feb 9, 2010 at 1:39 am

    LOL @ bowel movement!!

  • GGees
    Feb 9, 2010 at 1:40 am

    Stanley Fischer is an ass wipe and his comments are BS

  • frances snoot
    Feb 9, 2010 at 4:18 am

    Stanley Fischer:

    member G30
    “Stanley Fischer has been Governor of the Bank of Israel since May 2005. Prior to joining the Bank of Israel, Prof. Fischer was Vice Chairman of Citigroup from February 2002 through April 2005, where he was also Head of the Public Sector Group from February 2004 to April 2005, Chairman of the Country Risk Committee, and President of Citigroup International.

    Prof. Fischer was the First Deputy Managing Director of the International Monetary Fund, from September 1994 until the end of August 2001. Before he joined the IMF, Prof. Fischer was the Killian Professor and Head of the Department of Economics at MIT (Massachusetts Institute of Technology). From January 1988 to August 1990 he was Vice President, Development Economics and Chief Economist at the World Bank.”

  • frances snoot
    Feb 9, 2010 at 4:28 am

    “Update of March 1, 2004: now here’s a scary thought: Citigroup, with its predatory lending settlements, is moving to because THE credit history bureau in China. The American Banker newspaper reported last week that “China has no credit bureau, so Citi will gather information on applicants and try to act like a fledgling bureau. Most Chinese consumers do not have experience with revolving credit, so Citi will hold seminars on managing credit wisely. ” If this “training” is anything like what CitiFinancial does in the United States, the Middle Kingdom will be rife with predatory lending – perhaps even class action lawsuits, and captured regulators, one day… Meanwhile, JAGfn of Feb. 26 reports that Lehman Brothers ” recently met with the management of Citi’s Japanese consumer finance operation, CitiFinancial Japan (CFJ). Although a small portion of overall earnings, with improvement in other areas, it has spotlighted areas of remaining weakness like CFJ. We came away impressed that the business has been stabilized, restructuring steps are now complete.” Yep, Citi is taking predatory lending GLOBAL…”

    http://www.innercitypress.org/citi.html

    Stanley Fish was president of international operations for Citigroup during the Chinese seduction.

  • frances snoot
    Feb 9, 2010 at 4:37 am

    June 16, 2008

    “Citigroup Settles SEC Charges Relating to Argentina Crisis

    The SEC and Citigroup settled charges regarding Citigroup’s accounting relating to the impact of the economic and political crisis in Argentina on the company’s operations during the fourth quarter of 2001. In the latter part of 2001 and continuing into 2002, Argentina experienced a severe economic and political crisis during which, among other things, the Argentine government defaulted on certain of its sovereign debt obligations, devalued its currency, and abandoned the one-to-one ratio between the Argentine peso and the United States dollar. The actions of the Argentine government during the crisis required Citigroup to make a number of significant accounting decisions for the fourth quarter of 2001. Citigroup was required to account for (1) the impact of the company’s participation in a government-sponsored exchange of Argentine government bonds for loans (the “Bond Swap”); (2) the value of Argentine government bonds held by Citigroup that were not eligible for the Bond Swap (the “Non-Swapped Bonds”); (3) the sale of Banco Bansud S.A. (“Bansud”), the Argentine subsidiary of Banco Nacional de Mexico, S.A. (“Banamex”), which Citigroup had acquired in August 2001; and (4) the impact of government actions that resulted in the conversion of over $1 billion of Citigroup loans from dollars to Argentine pesos. According to the SEC, Citigroup accounted for each of these items in a manner that did not conform with generally accepted accounting principles (“GAAP”) and overstated its income reported in the company’s earnings press release included in a Form 8-K filed with the Commission on January 18, 2002, and in the company’s annual report on Form 10-K for 2001 filed with the Commission on March 12, 2002.
    Without admitting or denying the allegations, Citigroup consented to the entry of an Order Instituting Cease-and-Desist Proceedings, Making Findings, and Imposing a Cease-and-Desist Order Pursuant to Section 21C of the Securities Exchange Act of 1934 (“Order”).”

    http://lawprofessors.typepad.com/securities/2008/week25/index.html

  • Alastair Carnegie
    Feb 9, 2010 at 7:09 am

    There are ominous noises emanating from the deep subterranian basements of Wall Street and elsewhere. This is where the files on toxic assets are stored, the company morgue. Trillions of phantom shares resulting from past naked short selling, a scam called ‘Cellar Boxing’ a scheme invented by a deranged (he eats insects) psychopathic professor of economics, who is now cared for in a lunatic asylum. These files are known as “The Zombie Files” and catalogue the thousands of dodgy deals that constitute the ‘quadrillion dollar debt’. Some of these companies, (where a $100 can buy you a million shares), are still alive (just) ‘undead’ would be a better description, (buried alive), CmKm Diamons Inc. for instance have recently filed a $3.85 Trillion Lawsuit against the regulators…$2.2 Trillion of Her Majesty’s Gold has gone walkabout somewhere in the Australian outback called ‘Snake Hill’….Yes indeed, strange and terrible noises from the sub-basements of Wall Street….The Zombie Files are alive again.

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